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某股票投資的期望報酬率為16%,估計(jì)前3年是高速成長期,g1-3=30%,從第4年開始進(jìn)入慢速成長期,g4~=10%,D0=1.82。試確定該股票的投資價值。其中,(P/F,16%,1)=0.8621,(P/F,16%,2)=0.7432,(P/F,16%,3)=0.6407。
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你好 稍等看下題目
2021 12/27 17:57
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2021 12/27 22:47
前3年是高速成長期各年的股利依次為
=1.82*(1+30%)=2.366
1.82*(1+30%)^2=3.0758
1.82*(1+30%)^3=3.99854
前3年是高速成長期的現(xiàn)值=2.366*0.9621+3.0758*0.7432+3.99854*0.6407=7.124127738
慢速成長期現(xiàn)值=(3.99854*(1+10%)/(16%-10%))*0.6407=46.9675172633
確定該股票的投資價值=7.1241+46.9675=54.0916
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